Avoiding credit card fraud should be a top priority for your business, especially as the world moves further away from paper money and further into the realm of plastic transactions. If you are a business, whether brick and mortar or online, you are going to need to be proactive to stay ahead of the schemers that are out there. Many businesses mistakenly believe that counterfeiters cannot operate under a plastic system. However, they would be wrong. There are a number of ways that people can pass through credit card transactions for which they have no authorization to tender. To avoid it, you will need to put the power in the hands of your employees, whether that is just you or an entire team of vigilant associates, who believe in putting the safety of the customer first.
1) Ask for a picture ID whenever possible.
This method of avoidance applies more to the brick and mortar business than the online business, but it is nevertheless essential. When a card is lost or stolen, alerts may be placed on the account that require the presentation of a valid ID. However, don't wait for legislation to tell you to do the right thing. Train your employees to always check for a photo ID, and be open and honest with your customers about why you are having to do so. Your customers will 99.9 percent of the time understand the increased vigilance. If they don't, then you should probably be leery of them as identity theft and stealing of financial data should be a concern for everyone, and it should also be something that your legitimate customers will want you to police against.
2) Sign up with a reputable bank identification number database.
There are many options out there, but not all of them will stay on top of the most current numbers. You want your database to be fully updated so you can be aware of any alerts and avoid chargebacks. This is important whether your business is online or brick and mortar. From the online perspective, you need some means of verification that will require the card to be in the hand of the buyer. Even so, you could still suffer a chargeback if you ignore an established alert. Of course, you would not do that if you had an up to date database.
3) Be safe rather than sorry.
If the card has problems, then do not accept it as a form of payment. When you go ahead and pass a transaction through anyway, you put yourself in jeopardy of losing the merchandise and the money. You also anger the customer, who took proper precautions for fraud prevention, and you risk never gaining their actual business.
Software License - How to Avoid Future Hassles Get the Email Protection You Need From a Google Message Security Reseller When It Comes to Protecting Your Personal Information or "Identity", Here's What You Need to Know Search Your Name Online: Be Prepared for a Shocking Discovery How To Protect Your Digital Information Products From Online Thieves How To Keep Users and Data Safe On The Web
0 comments:
Post a Comment